KRASIF AID (A COMPANY LTD BY GUARANTEE)
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
KRASIF AID (A COMPANY LTD BY GUARANTEE) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
CONTENTS
Pages
2-5 Trustees’ Report 6 Independant Examiner's Report 7 Statement of Financial Activities 8 Balance Sheet
9-16 Notes to the Financial Statements
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KRASIF AID (A COMPANY LTD BY GUARANTEE FOR THE YEARTRUSTEES' ENDEDREPORT 31 MARCH 2021
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and financial statements for the year ended 31 March 2021.
ADMINISTRATIVE INFORMATION
KrasifAid is a charitable company limited by guarantee whose registered office is currently in Walsall, West Midlands, but activities are undertaken around the UK and in Bulgaria.
Company number: 06533519
Charity Number: 1123948
Registered Office: 1B Church Street, Cullompton, Devon EX15 1JU
Bank: CAF Bank Ltd 25 Kings Hill Avenue Kings Hill West Malling Kent ME19 4JQ
Independant Examiner: Laurie Fearon LEF Consulting 107 Beeches Road Rowley Regis West Midlands B65 OBB
Trustees
KrasifAid is run by a board of trustees/directors who met 4 times during the year. The trustees serving during the year were (dates of appointment shown, and dates of resignation if that happened during the year - if not noted the trustee served throughout the year):-
Names of Trustees:
James Chalmers Brian Clarke Christine Clarke Jonathan Loescher Roger Wilcox Gillian Winser
The company secretary is Mr Paul Gilliver.
STRUCTURE, GOVERNANCE AND INFORMATION
Trustees are appointed by the existing board of trustees.
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KRASIF AID (A COMPANY LTD BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
TRUSTEES RESPONSIBILITIES
The trustees are responsible for preparing the trustee's report and the financial statements in accordance with applicable law and regulations.
Company and charity law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit ofthe charity for that period. In preparing these financial statements, the trustees are required to: 1) select suitable accounting policies and then apply them consistently. 2) make judgements and accounting estimates that are reasonable and prudent. 3) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets ofthe charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
PRINCIPAL ACTIVITIES
The charity was incorporated on 2nd May 2008. Its objects are:-
(a) to advance the Christian faith in accordance with the Statement of Beliefs appearing in the Schedule to the Memorandum & Articles in Bulgaria and in such other parts of the world as the Trustees may from time to time think fit and to fulfil such other purposes which are exclusively charitable according to the law of England and Wales and are connected with the charitable work of the Charity;
(b) to relieve sickness and financial hardship and to promote and preserve good health by the provision of funds, goods or services of any kind, including through the provision of counselling and support in Bulgaria and in such other parts of the world as the Trustees from time to time may think fit.
(c) to advance education in accordance with Christian principles by such means as the trustees may consider appropriate including by means of establishing and operating any educational establishment or establishments in Bulgaria and in such other parts of the world as the trustees may from time to time think fit.
In setting our objectives and planning our activities the Trustees have given consideration to the Charity Commission's guidance on public benefit.
Our Mission statement is: Reaching out with Christian love; serving and partnering in Eastern Europe.
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KRASIF AID (A COMPANY LTD BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
ACHIEVEMENTS, PERFORMANCE AND ACTIVITIES
The year 2020 will long be remembered for the impact of the Covid 19 Pandemic around the world, This has of course had a major impact on our work as a charity, and also on our partner Churches and organisations in Bulgaria. Initially infection rates in Bulgaria were fairly low, but unfortunately this changed over the winter of 2020 and in recent times the death toll, pro-rata, exceeded that in the UK.
Thankfully, our income as a charity has remained remarkably stable during the entire year enabling us to continue our support of long-term partners and projects around Bulgaria both financially and prayerfully. Government restrictions in both the UK and Bulgaria prevented any of our usual pastoral and ministry visits happening so that all regular communications were entirely online.
A special Christmas Appeal raised around £5000 to provide some extra support through our partner churches for those in need as a result of the Pandemic. The help available from the Bulgarian Government was very limited. We were also able to fund the replacement of the defective air blower heating system at Sliven Baptist Church and which was totally unsuitable for Covid safe use.
The lasting impact on the Bulgarian economy of lockdowns is likely to have major repercussions, and we expect to be providing additional financial support through our partners in the coming year too. Our Church partners in Varna at the First Baptist Church, and in Razgrad at the Centre For You both received financial help through our Christmas Appeal, and an additional £1500 was allocated to Centre For You in February as they faced the possibility ofhaving to close their centre which provides a range of community welfare support to some of the very poorest local people.
In Sliven, there was no further progress with our key partners Sliven Baptist Church and the Initiative Compassion Foundation, about a new combined multi-purpose centre to both modernise and extend the services offered to the local community. The Blue House Care Centre building had been on the property market for some time without any reasonable offers being received, and the impact of Covid will only have made this more difficult. We are working with our partners to re-evaluate future plans in the light of these recent developments. The embroidered lettered bunting made at the Blue House continues to be popular and sales have continued well online.
We look forward to being able to recommence visits to Bulgaria by members of our Board, and teams of volunteers, as and when restrictions are lifted and it is deemed safe to do so. Promotion of the work of the charity continued through regular issues of our Krasif Newsletters, emails, website, and social media.
RISK ANALYSIS
The trustees have carried out a general review and consider that there are no major risks to its continuing for the foreseeable future. makingDonations regularare a dona subs t antialions and part this ofisth e charity'sxpected to income.continue. These are primarily from a wide. range of small donors FINANCIAL REVIEW Total receipts on unrestricted funds were £27,250 and are detailed in the financial statements. Receipts on restricted funds were £7,848. £33,216 was spent in pursuing Krasif Aid's objects. The net result for the year was an excess of receipts over payments of £1,606. The balances carried forward at the end of the year were £19,521 for unrestricted funds and £1,729 for restricted funds.
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KRASIF AID (A COMPANY LTD BY GUARANTEE) TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
RESERVES POLICY
Unrestricted funds
The Board is commutted to ensuring that there are sufficient reserves in unrestricted funds to ensure that the net settlement of all debtors and creditors, plus any costs in meeting its legal obligations. The Board believe that it is prudent to hold a cash reserve providing working capital to cover seasonal fluctuations in its expenditure, grants and income.
The trustees have decided that the maximum level of unrestricted reserves that should be held should be sufficient funds to cover meet the minimum level in paragraph one of this section plus stx months average expenditure plus any commitments that are awaiting for payment to be made. Based on previous levels of activity the Trustees had resolved to maintain unrestircted funds at between £10,000 and £20,000. The general unrestricted reserves at 31 March 2021 were £ 19,521.
Restricted and Designated Funds
The funds held in designated accounts will be reviewed every year to ensure that they are still appropriate and in line with the charity's strategy and policy and any surplus funds will be redirected by the Trustees. In particular, all designated gifts and donations are accepted only on the basis that if the intended project or ministry has already ~~ - been fully fanded; discontinued or cannot be completed for whatever-reason, the Trustees will use these funds---——-——--- ~~~ where they feel it is most appropriate. This is stated clearly in our literature.
SMALL COMPANY EXEMPTIONS
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
This report was approved by the board on ‘2% /TY /[ra]
and signed on their behalf.
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Signed
Mr Paul Gilliver.
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Independent Examiners Report on the accounts Report to the Trustees of Krasif Aid on the accounts for the year ended 31% March 2021
Charity Number 1123948
This report is made solely to the charity’s trustees, as a body, in accordance with Section 145 of the Charities Act 2011. Our examination has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an independent examiner’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and its trustees as a body, for our examination, for this report, or for the opinions we have formed.
Responsibilities of Trustees
The charity’s trustees are responsible for the preparation of the accounts. The charity’s trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.
Responsibility of Independent Examiner
It is our responsibility to:
-
¢ examine the accounts under section 145 of the 2011 Act, © to follow the procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act, and
-
@ to state whether particular matters have come to our attention.
Basis of statement
Our examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.
Independent Examiner’s statement
-
In connection with our examination, no matter has come to our attention:
-
which gives us reasonable cause to believe that in any material respect the requirements: ® to keep accounting records in accordance with section 130 of the 2011 Act; and
-
¢ to prepare accounts which accord with the accounting records and comply with the accounting requirements of section 130 of the 2011 Act and section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities.
- have not been met; or
-
to which, in our opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Signed:7: Laurence Fearon
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Date: 18.10.2021)
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LEF Consulting, 107 BEECHES Road, Rowley Regis, West Midlands B65 OBB
STATEMENT KRASIF AID (A COMPANY LTD BY GUARANTEE) OF FINANCIAL ACTIVITIES (INCLUDING SUMMARY INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2021
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|||||||
|---|---|---|---|---|---|
|Unrest|Rest|Total|Total|
|ricted|ricted|
|Note|Funds|Funds|2021|2020|
|Income|£|£|£|£|
|Donations and|legacies|26,018|7,848|33,866|28,136|
|Charitable|activities|1,218|-|1,218|1,777|
|Investments|14|-|14|7|
|Total|3|27,250|7,848|35,098|29,920|
|Expenditure|
|Charitable activities|1,723|-|1,723|6,045|
|Charitable|donations|21,656|9,837|31,493|22,340|
|Total|23,379|9,837|33,216|28,385|
|Net Income after tax/(Expenditure after tax )|3,871|(1,989)|1,882|1,535|
|Net Movement|in Funds|3,871|(1,989)|1,882|1,535|
|Reconciliation|of Funds|
|Total funds brought forward|15,926|3,718|19,644|18,109|
|Total Funds|Carried Forward|19,797|1,729|21,526|19,644|
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The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
The notes on pages 9-16 form part of these financial statements
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KRASIF AID (A COMPANY LTD BY GUARANTEE) Company registered number: 06533519 BALANCE SHEET AT 31 MARCH 2021
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|||||||||
|---|---|---|---|---|---|---|---|
|Note|2021|2020|
|£|£|£|
|FIXED ASSETS|
|CURRENT ASSETS|
|Stock|7|2,277|1,894|
|Cash|at bank and|in hand|19,123|17,900|
|21,400|19,794|
|CREDITORS: Amounts|falling|due|within|one year|8|150|150|
|NET CURRENT ASSETS|21,250|19,644|
|NET ASSETS|£|21,250|£|19,644|
|FUNDS|OF THE|CHARITY|
|Unrestricted|funds|19,521|15,926|
|Restricted|funds|1,729|3,718|
|TOTAL FUNDS|21,250|19,644|
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In approving these financial statements as directors of the company we hereby confirm the following: The company was entitled to exemption under s477 of the Companies Act 2006 relating to smal! companies.
The members have not required the company to obtain an audit for its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.
Brian Clarke, Director
The notes on pages 9-16 form part of these financial statements
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KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS EEFOR THE YEARLEOR ENDEDENUED 3131 MARCHVIARCH 20212021
1. BASIS OF PREPARATION
la. Basis of accounting
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The accounts have been prepared in accordance with the Statement ofRecommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 and with the Charities Act 2011. The charity constitutes a public benefit entity as defined by FRS 102.
Ib. Change of accounting policy
The accounts present a true and fair view and no changes have been made to the accounting policies adopted in note 2.
Ic. Changes to accounting estimates
No changes to accounting estimates have occurred in the reporting period (3.46 FRS102 SORP).
1d, Material prior year errors
No material prior year error have been identified in the reporting period (3.47 FRS102 SORP).
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KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES
2a. Income
Recognition of income
These are included in the Statement of Financial Activities (SoFA) when: ’ the charity becomes entitled to the resources; . it is more likely than not that the trustees will receive the resources; ‘the monetary value can be measured with sufficient reliability.
Offsetting
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted by the FRS 102 SORP or FRS 102.
Grants and donations
Grants and donations are only included in the SoFA when the general income recognition criteria are met (5.10 to 5.12 FRS102 SORP). In the case of performance related grants, income must only be recognised to the extent that the charity has provided the specified goods or services as entitlement to the grant only occurs when the performance related conditions are met (5.16 FRS 102 SORP).
Legacies
Legacies are included in the SOFA when receipt is probable, that is, when there has been grant of probate, the executors have established that there are sufficient assets in the estate and any conditions attached to the legacy are either within the control of the charity or have been met.
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- ACCOUNTING POLICIES (CONTINUED)
KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
2a. Income (continued)
Tax reclaims on donations and gifts
Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.
Contractual income and performance related grants
This is only included in the SoFA once the charity has provided the related goods or services or met the performance related conditions.
Donated goods
Donated goods are measured at fair value (the amount for which the asset could be exchanged) unless impractical to do so.
The cost of any stock ofgoods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. In the reporting period in which the stocks are distributed, they are recognised as an expense at the carrying amount of the stocks at distribution. Donated goods for resale are measured at fair value on initial recognition, which is the expected proceeds from sale less the expected costs of sale, and recognised in Income from other trading activities’ with the corresponding stock recognised in the balance sheet. On its sale the value of stock is charged against ‘Income from other trading activities' and the proceeds from sale are also recognised as "Income from other trading activities’. Goods donated for on-going use by the charity are recognised as tangible fixed assets and included in the SoFA as incoming resources when receivable.
Gifts in kind for use by the charity are included in the SoFA as income from donations when receivable.
Donated services and facilities
Donated services and facilities are included in the SOFA when received at the value of the gift to the charity provided the value of the gift can be measured reliably. Donated services and facilities that are consumed immediately are recognised as income with an equivalent amount recognised as an expense under the appropriate heading in the SOFA.
Support costs
The charity has incurred expenditure on support costs.
Volunteer help The value of any voluntary help received is not included in the accounts but is described in the trustees’ annual report.
Income from interest, royalties and dividends ;
This is included in the accounts when receipt is probable and the amount receivable can be measured reliably.
Investment gains and losses ; This includes any realised or unrealised gains or losses on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
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KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES (CONTINUED)
2b. Expenditure and liabilities
Liability recognition
Liabilities are recognised where it is more likely than not that there is a legal or constructive obligation committing the charity to pay out resources and the amount of the obligation can be measured with reasonable certainty.
Governance and support costs
Support costs have been allocated between governance costs and other support. Governance costs comprise all costs involving public accountability of the charity and its compliance with regulation and good practice. Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, or per capita, staff costs by the time spent and other costs by their usage.
Grants with performance conditions
Where the charity gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions
Where there are no conditions attaching to the grant that enables the donor charity to realistically avoid the commitment, a liability for the full funding obligation must be recognised.
Redundancy cost
The charity made no redundancy payments during the reporting period.
Deferred income
No material item of deferred income has been included in the accounts.
Creditors
The charity has creditors which are measured at settlement amounts less any trade discounts
Provisions for liabilities
A liability is measured on recognition at its historical cost and then subsequently measured at the best estimate of the amount required to settle the obligation at the reporting date
Basic financial instruments
The charity accounts for basic financial instruments on initial recognition. as per paragraph 10.7 FRS102 SORP, Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS102 SORP.
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KRASIF AID (A COMPANY LID BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES (CONTINUED)
2c. Assets
Tangible fixed assets for use by charity
These are capitalised if they can be used for more than one year. They are valued at cost.
Investments
Fixed asset investments in quoted shares, traded bonds and similar investments are valued at initially at cost and subsequently at fair value (their market value) at the year end. The same treatment is applied to unlisted investments unless fair value cannot be measured reliably in which case it is measured at cost less impairment. Investments held for resale or pending their sale and cash and cash equivalents with a maturity date of less than 1 year are treated as current asset investments
Stocks and work in progress
Stocks held for sale as part of non-charitable trade are measured at the lower or cost or net realisable value. Goods or services provided as part of a charitable activity are measured at net realisable value based on the service potential provided by items of stock.
Work in progress is valued at cost less any foreseeable loss that is likely to occur on the contract.
Debtors
Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received,
Current asset investments
The charity has investments which it holds for resale or pending their sale and cash and cash equivalents with a maturity date less than one year. These include cash on deposit and cash equivalents with a maturity of less than one year held for investment purposes rather than to meet short-term cash commitments as they fall due. They are valued at fair value except where they qualify as basic financial instruments.
2d. Stocks
Stocks are stated at the lower of cost and net realisable value. Cost incurred in bringing each product to its present location and condition is based on purchase cost ona first-in, first-out basis, including transport.
- 2e. Fund Accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objects of the charity and which have not been designated for other purposes. The charity’s general fund may be used by the charity at its discretion to further its stated charitable objectives.
Restricted funds are funds which are to be used in accordance with specific instructions of donors, or which have been raised by the charity for specific purposes. The cost of raising and administering these funds are charged against that specific fund. The movements on each of the individual restricted funds are set out in the notes to the financial statements
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KRASIF AID (A COMPANY LIED BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
2. ACCOUNTING POLICIES (CONTINUED)
2f. Incoming Resources
Income is the total amount received by the charity in donations, operating and fundraising activities. This is included in the accounts when it is received, with the exception of the income tax repayments for donations received under gift aid and which are accounted for as receivable when the donation itself is received.
2g. Allocation of Costs
It is considered that all the expenditure is directly for charitable purposes with the exception of the governance costs.
3 INCOME
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||||||||
|---|---|---|---|---|---|---|
|Unrest|Rest|Total|Total|
|ricted|ricted|
|Funds|Funds|2021|2020|
|£|£|£|£|
|Donations|and|legacies|
|General|donations|26,018|7,848|33,866|28,136|
|26,018|7,848|33,866|28,136|
|Charitable Activities|
|Craft enterprise|1,218|-|1,218|1,777|
|1,218|-|1,218|1,777|
|Investments|
|Bank|interest|receivable|14|-|14|7|
|14|-|14|7|
|Other|
|14|-|14|7|
|Total Incoming Resources|27,250|7,848|35,098|29,920|
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KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
4. EXPENDITURE
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|||||||||
|---|---|---|---|---|---|---|---|
|Unrest|Rest|Total|Total|
|ricted|ricted|
|Funds|Funds|2021|2020|
|£|£|£|£|
|Charitable|activities|
|Bulgarian churches|donations|21,656|9,837|31,493|22,340|
|Bank|fees|609|-|609|440|
|Craft|enterprise|491|-|491|1,800|
|Office|expenses|and UK|travel|473|-|473|767|
|Overseas ministry,|projects|and travel|-|-|-|2,888|
|23,229|9,837|33,066|28,235|
|Governance|costs|
|Independent|examination|150|-|150|150|
|150|-|150|150|
|Total|Resources Used|23,379|9,837|33,216|28,385|
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- §. TRUSTEES AND EMPLOYEES
No trustee or member received remuneration other than reimbursement of expenses in accordance with the company’s Memorandum of Association.
There are no paid employees.
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||||||
|---|---|---|---|---|
|6.|INDEPENDENT EXAMINATION FEE|2021|2020|
|£|£|
|Cost of independent examination|150|150|
|7,|STOCK|2021|2020|
|£|£|
|Stock|comprises:|
|Raw materials|and goods|for resale|2,277|1,894|
|£2,277|£|1,894|
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KRASIF AID (A COMPANY LTD BY GUARANTEE) NOTES TO THE ACCOUNTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
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||||||||
|---|---|---|---|---|---|---|
|2021|2020|
|£|£|
|Accruals|and|deferred|income|150|150|
|£|150|£|150|
|ANALYSIS|OF NET ASSETS BETWEEN FUNDS NET ASSETS BETWEEN FUNDS ASSETS BETWEEN FUNDS BETWEEN FUNDS FUNDS|
|Unrestricted|Restricted|Total|
|Funds|Funds|Funds|
|£|£|£|
|Current|assets|19,671|1,729|21,400|
|Current|liabilities|(150)|-|(150)|
|Long term|liabilities|-|-|-|
|Net assets|at 31|March|2021|19,52]|1,729|21,250|
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9. ANALYSIS OF NET ASSETS BETWEEN FUNDS NET ASSETS BETWEEN FUNDS ASSETS BETWEEN FUNDS BETWEEN FUNDS FUNDS
10 MEMBERS LIABILITIES
The charity is a company limited by guarantee. The liability of each member in the event of a winding up is limited to £10.
11 MOVEMENT OF FUNDS
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||||||||
|---|---|---|---|---|---|---|
|Bf|Incoming|Outgoing|Cit|
|resources|resources|
|(ine.|gains)|
|£|£|£|£|
|Restricted|fands|
|Sliven Baptist Church|1,989|6,494|(8,483)|-|
|Varna. Project|-|1,354|(1,354)|-|
|Freedom|in Christ|1,729|-|-|1,729|
|/|
|3,718|7,848|(9,837)|1,729|
|Unrestricted|funds|
|Unrestricted|funds|b/f|15,926|27,250|(23,379)|19,797|
|15,926|27,250|(23,379)|19,797|
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12. RELATED PARTIES
During the financial year there were no related party transactions.
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